Solana’s decentralized applications (DApps) revenue hits a new milestone, contributed by the surge in meme coin-related activity and other factors. During November 2024, the network clocked a staggering $365 million in revenue, as per the latest report. Meme coin launchpad Pump.fun alone contributed $100 million in revenue. The Solana network has continued to smash new records amid high demand within the blockchain industry, while SOL price flirts around the crucial support of $210. 3 Reasons Contributing to Solana DApp Revenue The latest Syndica research report revealed that Solana Dapps’ revenue in November last month surged to $365 million, hitting fresh record highs. Solana’s decentralized finance (DeFi) ecosystem dominated revenue generation last month, accounting for nearly 84% of the total funds raised. In contrast, wallets and infrastructure collectively drew less than 15% of the month’s revenue. Solana-Based Meme Coins Driving DeFi Activity Several meme coins and meme-supportive protocols are driving the DeFi activity on the Solana blockchain thereby contributing to the surge in SOL revenue. In 2024, revenue from meme coin Solana DApps surged a massive 305x while raking in more than $509 million. Source: Syndica As reported, the most popular meme coin launchpad platform Pump.fun topped Solana protocol revenue last month with $106 million. Last month in November, Pump.fun faced major hate over allegations of supporting acts of violence. However, the platform was quick to address this issue. The meme coin launchpad has indefinitely suspended its live streaming feature, vowing to develop a more effective moderation system moving forward. Telegram Bots Boost Their Presence in SOL Ecosystem As per the Syndica report, Telegram bots are also establishing a strong presence in the Solana ecosystem. After the meme coin Solana DApps, they contribute the second-largest revenue for the ecosystem, with over $300 million in earnings this year. Meme traders frequently use bots like Trojan, Banana Gun, and BONKbot to invest in the latest trendy launches directly through Pavel Durov’s private messaging platform. The report notes: “Telegram bots are here to stay, growing alongside DEX volume. Last month, the category generated $82M in revenue, doubling its previous peak of $41M. Telegram bot DEX volume share has stabilized at 4–5% in recent month”. Other Protocols Contributing to Revenue Surge Researchers at Syndica also noted the surge in protocols generating monthly revenues ranging from $10,000 to $10 million. The report also shows that Solana’s Decentralized Physical Infrastructure Network (DePIN) as a key emerging sector in revenue generation. Another report from Messari also predicts explosive growth for Solana in 2025. DePIN involves utilizing blockchain resources to support and maintain real-world services, such as servers, a concept gaining traction among crypto enthusiasts. It noted: “Protocols such as Render, Nosana, Helium, and Hivemapper have recently seen strong demand for their services, driving notable revenue growth. Render’s decentralized compute network is currently the largest revenue driver in the DePIN sector”. SOL Price Action Ahead Amid the rising Solana DApp revenue, SOL price hit a high of $263 last month. Ar present, it has been moving sideways and currently consolidating around $210. A crypto analyst noted that it is important for the Solana price to hold above the $200 psychological level. The analyst suggests caution and advises waiting to see if this support level will hold. The post 3 Reasons Why Solana DApp Revenue Climbs to $365M in November 2024 appeared first on CoinGape .
The crypto market took a battering after Fed Chair Powell’s speech at the FOMC meeting on Wednesday. However, Thursday has dawned brightly for the crypto market and a bounce is under way. $XRP, $SUI, and $APT are among the altcoins that are bouncing the highest. $XRP returns inside triangle formation Source: TradingView The 4-hour chart for $XRP shows that the bulls managed to hold the price above the ascending trendline, and keep it within the triangle that is forming. Wednesday’s market madness did pull the price down below the trendline at one point, but bulls quickly bought it back up again, as attested to by the candle wick that was left behind. The 0.618 Fibonacci was probably the strongest support, as can be seen by several dips down to this level since early December. The price could be in the process of flipping the current resistance into support right now. If the bulls are successful, the top of the triangle would likely be the next port of call. $SUI bounces from bull market trendline Source: TradingView $SUI has bounced nicely from the ascending trendline it has been following since late October. Among most of its competitors, $SUI is the one that is rising the most, and falling the least. The next targets are at the 0.618 ($4.61), and then the 0.786 at $4.76. Another all-time high is only just beyond this. $5.00 could soon be reached. $APT bulls needs to break out of the sideways choppiness Source: TradingView $APT doesn’t have the great uptrends of the previous two altcoins, but it has bounced well so far on Thursday. Up 4.6% on the day so far, the price has touched the 0.382 Fibonacci, and is consolidating ready for a possible further move to the upside. Targets are in the chart above. If $APT is able to get up to the 0.786 Fibonacci, this is likely to coincide with a descending trendline, which bulls will need to break in order for $APT to break up out of this sideways choppiness. This is the minimum that can be expected from the bulls given that the all-time high is still a long way from here. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Key Criticisms of XRP Ripple’s XRP has seen extraordinary growth, surging nearly 500% from $0.50 to $2.60 in recent months. However, a video titled “Everything That’s Wrong With XRP” has sparked heated debates in the crypto community, highlighting three major criticisms: Stablecoin Competition: The video claims that stablecoins are overshadowing XRP as a bridge currency … Continue reading "Ripple CTO Addresses XRP Criticism Amid 500% Price Surge" The post Ripple CTO Addresses XRP Criticism Amid 500% Price Surge appeared first on Cryptoknowmics-Crypto News and Media Platform .
Scandinavian countries disclose tax records and addresses of crypto hodlers, providing criminals with a list of potential targets.
In 2024, hackers associated with North Korea set a new record for cryptocurrency theft. Notorious for their advanced skills in malware deployment, social engineering, and crypto asset theft, these hackers often channel stolen funds into state-sponsored projects, including weapons of mass destruction and missile programs, bypassing global sanctions. In 2023, they stole around $660.5 million through 20 incidents, but this amount surged to $1.34 billion across 47 cases in 2024, marking a 102.88% increase in stolen value. North Korea Sets Crypto Theft Record in 2024 According to the latest report by Chainalysis shared with CryptoPotato , the frequency of North Korea’s cryptocurrency attacks continues to grow, even as the total number of incidents across all scales has declined year-over-year. Particularly in 2024, there was a noticeable uptick in large-scale attacks involving $50-$100 million and amounts exceeding $100 million. This suggests that North Korea is becoming more efficient in orchestrating high-value breaches, a notable change from the past two years when their attacks predominantly generated less than $50 million per incident. North Korean IT workers have increasingly infiltrated crypto and Web3 companies, compromising their systems and integrity. Using advanced tactics like false identities, third-party hiring intermediaries, and exploiting remote work opportunities, they gain access to sensitive networks. In one notable case, the US Department of Justice indicted 14 North Korean nationals who posed as remote IT employees for US companies, stealing proprietary information and extorting employers, resulting in $88 million in illicit earnings. Hacking Dominance Dips in Late 2024 While North Korea’s exploits dominate this year’s hacking statistics, the global landscape highlights the continued threat of crypto theft. Total stolen funds reached $2.2 billion in 2024, marking the fifth year in the past decade where over $1 billion was stolen. This means that North Korea accounts for 61% of the total stolen crypto for the year and 20% of all incidents. Interestingly, while hacking activity surged in the first half of 2024, with $1.58 billion stolen by July – over 84% higher than the same period in 2023 – it slowed significantly in the latter half. Data reveals a 53.73% drop in stolen funds after July 1, 2024. This decline may be tied to shifting priorities as North Korea strengthens ties with Russia and possibly redirects resources to the Ukraine conflict. However, December events or holiday attacks could still change the overall picture, the blockchain data platform warned. The post Crypto Heists Surge: North Korean Hackers Responsible for 61% of $2.2B Stolen in 2024 appeared first on CryptoPotato .
The broader crypto market experienced a pronounced downturn following yesterday’s Federal Open Market Committee (FOMC) meeting, held on December 18. After the US Federal Reserve delivered a 25-basis-point rate cut as anticipated, it also signaled fewer cuts in 2025 than previously expected. In response, the Bitcoin price fell by more than 5%, dropping below the $100,000 mark before showing slight signs of recovery. Altcoins saw across-the-board double-digit percentage declines. The Federal Reserve’s decision—while meeting expectations for a 25-basis-point reduction—came with a notable shift in the projected rate trajectory for next year. Rather than the previously communicated four cuts, the central bank now anticipates only two, signaling a more cautious stance. This recalibration of future monetary policy sent ripples through the entire risk asset spectrum, prompting the S&P 500 to decline 3% and the Russell 2000 Small Cap Index to drop 4.4%. Is The Crypto Bull Run Over? Within the crypto sector, the immediate aftermath was pronounced. Matt Hougan, Chief Investment Officer at Bitwise Asset Management, addressed the market conditions this morning via X, writing: “The big catalyst today was the Fed announcement The Fed cut rates by 25 basis points as expected, but lowered expectations for next year from 4 cuts to 2 cuts. Higher rates are bad for risk assets, and the Fed’s announcement caused a sharp pullback in all risk assets.” Related Reading: Bitwise Exec Reveals His Personal Top 3 Crypto Predictions For 2025 According to Hougan, Bitcoin’s price action reflected heightened sensitivity to shifting monetary conditions. He noted that Bitcoin price drop was exaggerated by leveraged positions being liquidated. “$600 million of leveraged long positions were blown out in today’s market, exacerbating the pullback.” Despite the steep correction, Hougan argued that the broader outlook remains constructive: “Crypto now has internal momentum, and nothing about today’s announcement interrupts the mega-trends: The pro-crypto reversal in Washington policy, rising institutional adoption and ETF flows, Bitcoin purchases by governments and corporations, and major tech breakthroughs in the programmable blockchain space.” He pointed to technical indicators as a supporting factor for his thesis: “My favorite momentum gauge is still positive: Bitcoin’s 10-day exponential moving average ($102k) is still above its 20-day exponential moving average ($99k).” Related Reading: Crypto Watchlist: Top 5 Coins To Watch This Week Hougan concluded his thread by maintaining that the shift in Fed expectations would not derail the longer-term bull run, stating: “Crypto’s in a multi-year bull market. 50bps of projected rate cuts won’t change that.” Other market observers offered similar interpretations of the Fed’s communication strategy. Warren Pies, Founder of 3Fourteen Research, commented via X: “By upping inflation forecast, lowering UE rate, and keeping cuts in place, the Fed has actually opened the path to more than 2 cuts in 2025 as data ‘surprises’ to the dovish side.” Renowned macro analysts echoed this sentiment. Crypto analyst and podcaster Fejau (@fejau_inc) described the central bank’s approach as a strategy designed to guide market expectations: “Fed forced itself into cutting this week so is using a hawkish 2025 FFR dot plot forecast to talk down long bond yields despite cutting today […] Welcome to macro psyop warfare. Smoke and mirrors baby.” He characterized the dot plots as a tool for psychological influence rather than a strict roadmap: “It’s important to view the dot plots not as a future forecast of events, but as a psychological tool […] The Fed has bought themselves time to allow further data to come out before they actually make a move […] Can almost guarantee you 2025 will not occur as is forecasted in their dots.” Andreas Steno Larsen, CIO of Steno Global Macro Fund and CEO at Steno Research, offered a similar assessment: “By hawking up all forecasts a lot, the Fed lowers the bar materially for cuts next year. It is a wise move, if you want to cut further, but do not want to precommit.” At press time, Bitcoin traded at $101,766. Featured image created with DALL.E, chart from TradingView.com
Bitcoin briefly fell under $100K as Fed's Powell rejected U.S. Bitcoin reserve. What next for BTC?
Crypto hackers had a busy year in 2024 and cybersecurity experts warn that continued advances in artificial intelligence could bring new attack vectors in 2025.
Today, the Human Rights Foundation (HRF) announced its most recent round of Bitcoin Development Fund grants, in a press release sent to Bitcoin Magazine. 700,000,000 satoshis (7 BTC) currently worth $706,000 at the time of writing, is being granted across 20 different projects around the world focusing on technical education for people living under authoritarian regimes, independent media outlets, decentralizing mining, and providing human rights groups with more private financial solutions — with a main areas of focus for these grants center around countries and regions in Latin America, Asia, and Africa. While the HRF did not disclose how much money each project is receiving specifically, the following 20 projects are the recipients of today's round of grants worth 7 BTC: Stratum V2 Reference Implementation (SRI), an open-source software that decentralizes Bitcoin mining by enabling nodes to construct their own block templates. This helps promote solo mining, reduces reliance on large mining pools, and strengthens Bitcoin’s permissionless and censorship-resistant qualities. Funding will support developer bit-aloo’s full-time work on SRI, including benchmarking tools to evaluate the performance of Stratum V2, integration tests, codebase maintenance, and software documentation. Public Pool , a free and open-source mining pool optimized for low hash rate devices (a mining device with limited computational power). Users can self-host a Stratum server and select their own block templates without relying on a third party. By making Bitcoin mining more accessible and decentralized, Public Pool strengthens the Bitcoin network. Funding will support hosting costs, hardware upgrades, and operational expenses. Naiyoma , the first female Bitcoin Core developer from Africa. Hailing from Kenya, she is dedicated to fostering an open financial system rooted in transparency, freedom, and fairness. Her work focuses on reviewing pull requests (PRs), addressing bugs through new PRs, and improving Bitcoin Core’s codebase. Funds will support her full-time contributions to advancing Bitcoin Core. Daniela Brozzoni , an experienced software developer. Previously, she contributed to the Bitcoin Development Kit (BDK), a software library that allows you to build cross-platform Bitcoin wallets. She is now shifting her focus to Bitcoin Core, where her work will be reviewing key pull requests (PRs), contributing to new features, and improving testing coverage. Through her efforts, Daniela aims to enhance Bitcoin’s decentralization, privacy, and resilience. This grant will support her full-time contributions to Bitcoin Core. UX/UI Design for Bitcoin Core , redesign work by product designer Michael Haase that aims to bring the Bitcoin Core App to mobile devices (making it accessible beyond desktop use). This update will enable users to run nodes, access essential wallet features (such as Silent Payments and multisignature) directly on their phones, and improve their financial privacy. Funding will support the project’s design and development. No BS Bitcoin , a newsdesk delivering the latest Bitcoin news and updates on open-source technologies in a clear and accessible format. Free from ads, tracking and paywalls, the platform consistently highlights privacy and freedom technologies essential for activists and citizens under authoritarian regimes. Funding will ensure the site’s continued operation, enable the hiring of an additional editor, and support the introduction of Nostr features (like Zaps and comments) to foster greater community engagement. Tando , a new payment application co-founded by Sabina Gitau, empowering 54 million Kenyans to have the option to use Bitcoin for everyday transactions. By integrating with M-PESA, Kenya’s leading mobile payments system, Tando allows users to pay in Bitcoin via a Lightning wallet, while merchants receive Kenyan Shillings. The platform is KYC-free and has no fees, offering an affordable and private payment solution. Funds will help boost Tando’s liquidity, support a growing user base, and drive expansion across the African continent. YakiHonne , a client for the decentralized Nostr protocol built by a team in East and Southeast Asia. It was developed by Wendy Ding to support free speech and promote Bitcoin payments across 170 countries. With innovative functionality and a blend of online and offline events, YakiHonne seeks to drive the adoption of decentralized social media. Funding will support smart widget development, relay network improvements, and influencer engagement to expand Nostr’s reach and impact. SeedSigner Multi-language Support, a translation project by developer Ace to integrate multi-language functionality into the fully customizable, open-source SeedSigner hardware wallet. This will enhance accessibility for users worldwide and empower marginalized communities to achieve financial sovereignty through inexpensive and accessible self-custody. Funding will support the developer's efforts to deliver a multi-language version of SeedSigner within the next year. Vexl , a peer-to-peer Bitcoin trading application founded by Lea Petrasova to provide users with a private and Know-Your-Customer (KYC) free Bitcoin experience. By connecting users through their phone contacts, Vexl enables secure, direct Bitcoin transactions in a peer-to-peer manner. The app aims to make private Bitcoin usage more accessible while offering critical protection against authoritarian regimes. Funding will support Vexl’s growth, focusing on reaching African communities and driving improvements to its backend infrastructure. Tomatech, a community focused on building a team of developers in India to advance Bitcoin infrastructure and Free and Open Source Software (FOSS) projects. By offering mentorship and training, it bridges the gap between education and practical experience. Additionally, its Goa-based cultural center and community space will foster a vibrant Bitcoin community through meetups, workshops, and residencies. Funding will support developer training, the creation of a developer hub, bounties and grants, and general operations. Krux , open-source software that turns generic devices into hardware wallets for secure Bitcoin self-custody and transactions. It features air-gapped operations, key management and backups, an intuitive interface, and support for 10 languages. This project can help decentralize Bitcoin custody and safeguard freedom and property rights in authoritarian regimes. Funding will help developer Odudex further advance this innovative open-source project. Iris , a Nostr web client created by developer Martti Malmi designed to make private and secure messaging simpler and safer. Using the MIT-licensed nostr-double ratchet library, it aims to improve protection for metadata and message content, ensuring conversations remain private—especially in surveillant environments. Funding will support hiring a developer to expand Iris's features and functionality. African UX Bitcoin Bootcamp , a program that empowers talented Bitcoin UX designers from authoritarian countries with the opportunity to attend the Africa Bitcoin Conference (ABC) for hands-on training and networking. Led by Bitcoin Design Foundation ’s co-founder, Mogashni Naidoo, participants will receive on-ground training and test the usability of their products at ABC. Funds will cover the program expenses, including flights, accommodations, and logistics, ensuring accessibility for all participants. Bitcoin History , a research project by Pete Rizzo dedicated to documenting and preserving key people, events, and materials (ie. photographs, videos, links, information) that shaped Bitcoin’s rise as a global monetary and human rights force. Focused on “the history of the future of money,” the project highlights Bitcoin’s role as a tool for financial freedom. The grant will support an additional researcher to investigate and document stories of Bitcoin’s use against authoritarian regimes. Cashu-ts , the primary Software Development Kit (SDK) in the Cashu ecosystem developed by Gandlaf21. It simplifies wallet creation, integrates the latest protocol updates, and powers popular wallets (like Minibits, eNuts, and Nutstash). By enabling the development of secure, privacy-focused “digital cash” wallets, Cashu-ts plays a vital role in advancing the Cashu ecosystem and financial privacy. This grant will support the developers in maintaining and improving this essential library. Unify , a Payjoin wallet developed by Fontaine to enhance privacy in Bitcoin transactions. Built using Nostr and Bitcoin Core, it leverages Payjoins to obscure transaction histories by enabling multiple parties to make collaborative payments (making Bitcoin inherently more private). This functionality is especially crucial for individuals navigating repressive regimes. Funding will support the developer's full-time contributions, advancing Unify’s features and expanding its compatibility with other wallets. The Financial Freedom Policy Coalition, a policy coalition founded by Venezuelan activist, Jorge Jraissati , brings together youth leaders, policymakers, and industry experts to promote economic opportunities for people living under authoritarian regimes. The coalition plans advocacy missions to educate policymakers on how Bitcoin can support human rights and create social benefits. Funds will cover the costs of organizing and running these missions. Jon Atack , a Bitcoin Core contributor and Bitcoin Improvement Proposal (BIP) editor, recognized as one of the top all-time contributors to Bitcoin Core. As a dedicated developer, he plays a pivotal role in enhancing Bitcoin’s decentralization and robustness. Atack is also a staunch advocate for using Bitcoin and open-source software as tools to resist tyranny and advance global human rights. This grant will empower him to continue his vital contributions to Bitcoin development. Brink , an organization committed to strengthening the Bitcoin protocol through research and development. Co-founded by Mike Schmidt , Brink supports Bitcoin protocol engineers with grants and offers training and mentorship to onboard new contributors to open-source development. This grant will cover operational expenses, ensuring continued support for open-source developers and the advancement of Bitcoin’s core infrastructure. The HRF is a nonpartisan, nonprofit 501(c)(3) organization that promotes and protects human rights globally, with a focus on closed societies. The HRF continues to raise support for the Bitcoin Development Fund , and interested donors can find more info on how to donate here . Applications for grant support by the HRF can be submitted here .
Binance’s latest Global User Survey revealed that almost half of its users joined the crypto market in 2024. Meanwhile, around 23.89% respondents believe AI tokens will lead the crypto market in 2025, followed closely be meme coins. On Dec. 19,…